Big iron idiocy spreads scream shut

Thursday, 24 September 2015

Big iron is on the nose again today with BHP down 1% and on the verge of a new low for the trend. RIO and FMG are down and up slightly respectively:

The idiocy spreads are on the move again with BHP screaming closed and RIO moving the same way more slowly:

And yes, I believe all three will shut completely before this is over.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.